Monday, April 2, 2012
Title: Flip the Funnel: How to Use Existing Customers to Gain New Ones
Author: Joseph Jaffe
Genre: Social Media/Marketing
Page Count: 286 pages
Publish Date: February 1, 2010
Book Type: Hardback
Publisher: John Wiley & Sons
Picture from Goodreads
My Review: Throughout “Flip the Funnel,” Jaffe really stresses the importance of transparency among businesses. Flipping the funnel is all about empowering and trusting the customers. He also stresses the idea that a company should focus on their existing customers. This makes a lot of sense. Businesses are always giving out incentives to become a new customer, but it seems as if the rewards for existing customers are not as prominent.
The notion that customers are not predictable because they are not linear also makes sense. Two mothers in their thirties with two children each could lead drastically different lifestyles--even if they share other defining characteristics. Perhaps it is time for companies to start looking at their customers on an individual case-by-case scenario. If a company can find a way to keep their existing customers, some of the pressure of finding new ones will be alleviated. If customers are happy with a product or service, they are likely to share their experiences with other people. Essentially, a company’s current customers can be the ones to find new customers.
The whole idea of flipping the marketing funnel sounds really good. Instead of getting customers to focus on the product or service, the flipped funnel is having the business focus on the customers.
Jaffe brought up a lot of valid points and examples. “Flip the Funnel” was well written and researched. It would be well suited for high school and college students, as well as any company looking to make a change in their marketing department. Jaffe uses the basic set-up of, where we are now, where we should be, and then what happens after that. The main takeaway is for companies to focus on their existing customers and then to let them attract new customers.
Marketing, social media and books--my favorites! What do you think?